CORRECTION - Magic Software Enterprises Ltd: Magic Distributes Dividend to Shareholders for First Half of 2012

Sep 10, 2012, 06:25 ET from Magic Software Enterprises Ltd

Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that its Board of Directors has declared a cash dividend in the amount of US $0.10 per share and in the aggregate amount of approximately US $3.7 million for the first half of 2012.

The dividend is payable October 17, 2012 to all of the Company's shareholders of record at the close of the NASDAQ Global Select Market on October 2, 2012.

"Following the decision to implement a dividend policy, I am happy to announce this $0.10 per share cash dividend distribution," stated Guy Bernstein, CEO of Magic. "I am confident that Magic is well-positioned to continue to execute its growth strategy through sales of our high-demand advanced technology, including enterprise mobility, and to increase the value for our shareholders, today and in the future."

In accordance with Israeli tax law, the Company will deduct 25% of the dividend amount payable to each shareholder, subject to applicable exemptions.

The dividend will be paid in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the Tel Aviv Stock Exchange, and in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Select Market.

About Magic Software Enterprises

Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data.

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Except for any historical information contained herein, matters discussed in this press release might include forward-looking statements that involve a number of risks and uncertainties. Regarding any financial statements, actual results might vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic's most recent annual report and other filings with the Securities and Exchange Commission.

Magic has made every effort to ensure that the information contained in this press release is accurate; however, there are no representations or warranties regarding this information, including warranties of merchantability or fitness for a particular purpose. Magic assumes no responsibility for errors or omissions that may occur in this press release.

Magic is a registered trademark of Magic Software Enterprises Ltd. All other product and company names mentioned herein are for identification purposes only and are the property of, and might be trademarks of, their respective owners.

Press Contact:

Amit Birk | VP M&A and General Counsel Magic Software Enterprises

SOURCE Magic Software Enterprises Ltd